London · Delayed Price · Currency is GBP · Price in GBX Forterra Earnings Call Transcripts
Fiscal Year 2025
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Revenue rose 12.1% to GBP 386 million and adjusted EBITDA increased 18.5%, with leverage reduced to just above 1x. Strategic investments are complete, a GBP 20 million share buyback is underway, and 2026 performance is expected to slightly exceed 2025.
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Revenue and EBITDA grew strongly in H1 2025, driven by housebuilding demand and operational improvements. Net debt fell, interim dividend rose 90%, and strategic exits from loss-making units will boost margins. Full-year guidance was raised, with continued caution on UK economic risks.
Fiscal Year 2024
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2024 saw resilient results with flat revenue, strong H2 growth, and robust cash flow, despite lower EBITDA and ongoing cost pressures. Strategic investments and sustainability initiatives position the business for market recovery, with 2025 guidance indicating further improvement.
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Revenue and EBITDA declined year-over-year due to weak market demand, but cost control and strategic investments supported cash flow and kept leverage within targets. Full year EBITDA is guided at £50 million, with long-term fundamentals supported by government housing targets and capacity investments.